Xiaomi, one of China's largest and most popular phone makers, have announced today that their new flagship Smartphone, the Xiaomi Mi3, was sold out in under 90 seconds. The record time is actually 1 minute and 26 seconds (or 86 seconds, to be exact). In case you're wondering as to how many Mi3s were sold within the same period, the number is a mind-boggling 100,000. Perhaps this is why Chinese phone makers price their flagship products at relatively affordable prices, somewhere around the $300-$400 mark, since it attracts more customers and ultimately leads to more sales (and more profit in the process). It's a win-win situation.

　　The 16 GB version of the Xiaomi Mi3 commands a price of 1999 Yuan (roughly $330), whereas the 64 GB version costs 2499 Yuan (just $410).